Update: China FDI inflow increased by 25.6% in Q1
BEIJING, April 14 (Xinhua) – Foreign direct investment (FDI) inflows into mainland China grew by 25.6 percent year-on-year to 379.87 billion yuan in the first quarter, according to the Commerce Ministry (MOC). Thursday.
In US dollar terms, inflows grew by 31.7 per cent year-on-year to US $ 59.09 billion.
Strong FDI growth came amid growing domestic and external uncertainty due to a mix of factors, including the resumption of COVID-19 cases.
Acknowledging the impact of the COVID-19 fires on the business activities of foreign firms in China, MOC spokesman Xu Jutin said a special working group has been set up for key foreign funding projects, with ministry and local officials taking action. Assist relevant organizations in overcoming difficulties.
“We are assisting foreign companies, especially those severely affected by COVID-19, to resume work and production, to address staffing issues in China, as well as problems with logistics and transportation,” Shu said. The hardships gradually subsided.
In particular, foreign investment in China’s high-tech industries recorded an annual growth of 52.9 percent, during which time the volume touched 132.83 billion yuan.
FDI in high-tech manufacturing grew by 35.7 per cent year-on-year, compared to 57.8 per cent year-on-year in the high-tech services sector, the data showed.
During January-March, FDI inflows into the central region of the country grew at a rate of 60.7 per cent per annum, 23.4 per cent in the East and 21.9 per cent in the West.